Solar Panel Cost Guide in Lyman, SC (2023 Update)
- Lyman Solar Installation Cost: $15,382
- 25-Year Savings: $30,032
- Payback Period: 8.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lyman
We break down average solar pricing in Lyman.
The average cost of solar panels in Lyman is 2.72 per watt. The average Lyman homeowner needs a 8.1-kilowatt system, which would cost about $15,384 with the federal tax credit, or $21,999 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more. With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Lyman find going solar can be quite rewarding.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lyman
| Year | Return on Investment |
|---|---|
| 1 years | $-15,231 |
| 3 years | $-14,928 |
| 5 years | $-14,626 |
| 7 years | $-14,323 |
| 9 years | $-14,020 |
| 11 years | $-13,717 |
| 13 years | $-13,414 |
| 15 years | $-13,112 |
| 17 years | $-12,809 |
| 19 years | $-12,506 |
| 21 years | $-12,203 |
| 23 years | $-11,901 |
| 25 years | $-11,598 |
Top Solar Installers in Lyman
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your swap to solar power much easier. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for your family.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Lyman
Factors that Affect Solar Panel Costs in Lyman
While the average cost of a solar system in Lyman is $15,384, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Lyman average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Lyman, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Lyman, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Lyman have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.83 | $11,881 | $21,847 | 8.8 years |
| 8 kW | $2.77 | $15,537 | $29,433 | 8.6 years |
| 10 kW | $2.72 | $19,040 | $37,172 | 8.5 years |
| 12 kW | $2.67 | $22,391 | $45,064 | 8.3 years |
| 14 kW | $2.61 | $25,590 | $53,108 | 8.1 years |
| 16 kW | $2.56 | $28,636 | $61,304 | 8.0 years |
| 18 kW | $2.50 | $31,530 | $69,652 | 7.8 years |
| 20 kW | $2.45 | $34,272 | $78,153 | 7.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Lyman, SC Solar Cost FAQs
How much does it cost to install solar panels in Lyman?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,600 for a 5-kW system and $27,200 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Lyman?
Solar panels aren't free in Lyman, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,124.25 per year.
How long do solar panels last in Lyman?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.